CoinShares Acquires Valkyrie Funds Following Approval of Bitcoin ETF

The acquisition adds $110 million to CoinShares' assets, marking its expansion into the U.S. market.

European asset manager CoinShares has exercised its option to acquire Valkyrie Funds, a move that comes after the launch of Valkyrie's spot Bitcoin ETF.
The acquisition will bring $110 million worth of assets under CoinShares' control, adding to its existing $4.5 billion assets under management.
The U.S. Securities and Exchange Commission approved Valkyrie's Bitcoin ETF for trading on Wednesday, along with other Bitcoin funds.
On its first day of trading, Valkyrie's Bitcoin ETF, trading under the BRRR ticker, closed at $13.29 and was down slightly, 1.8%, right after the bell on Friday morning.
CoinShares aims to extend its success in the European market to the U.S., offering regulated digital asset products to American investors.